COALspot.com keeps you connected across the coal world
  • JUNE 2020 INDONESIAN COAL PRICE REFERENCE FOR EXPORTS AND DOMESTIC BUYERS INCLUDING POWER PRODUCERS FIXED AT US$ 52.98 A TON

Submit Your Articles
We welcome article submissions from experts in the areas of coal, mining, shipping, etc.

To Submit your article please click here.

International Energy Events


WTI Crude Oil

BRENT Crude Oil

Search News
Latest CoalNews Headlines
Tuesday, 17 September 19
THE DRY BULK FREIGHT MARKET IS ALREADY ON A DOWNWARD CORRECTION - ALLIED
Allied LogoHere we are again, just a breath before the final quarter of the year. Under typical circumstances and on the basis of what we have seen during the summer months, one would be (theoretically) extra bullish in terms of what to expect for the final part of 2019, said Thomas Chasapis, Research Analyst of Allied shipping Research in his latest report.

However, can the current positive dynamics be sustained over the next three months? According to Thomas Chasapis many views have been expressed in respect to the true state of the dry bulk market. At this point, it seems as though the most vital question is as to whether the market has any direction at all (with the hope of some sort rebalancing soon), or whether the recent summer trends in the freight market have created ample artificial noise in a market that is currently stagnant.

Thomas Chasapis further noted, the dry bulk freight market is already on a downward correction, hardly a surprise, given that the balance point of the market does not seem to be by any measure with a BDI of above 2,500bp (at least for now). This has been expressed emphatically in the paper market, with current forward curves indicating massive corrections moving forward. Notwithstanding this, future contracts for the BCI-5TC average for the final quarter have been formed at slightly above US$ 25,000/day. It is true that this level is an extreme discounted when compared to where the current freight market is at, but when we consider that we are talking about a 3-month average figure which is above US$ 10,000/day more than the year-to-date average.

Just remember what we were seeing for similar contracts exactly one year earlier and at what levels the market closed off the final three months of 2018. So, are we truly faced with a pessimistic view right now? The reality is slightly more ambiguous as we shift the focus over to the macroeconomic indicators. Y-o-y massive corrections have brought with them a huge wave of negativism towards the market.

According to Thomas Chasapis, forward contracts for 2020 felt a correction of around US$ 5,000/day, while 2021 and the years beyond that were a little less so effected though still noting significant corrections. All-in-all, even under these conditions, there are many positive indicators to be seen as well. If the current forward curve is "right", the freight market will be on time to catch-up and finish the year with an average of at least on par with that of 2018 (if not higher). Despite the impressive recovery, many will probably still view the year as a step back. However, it is interesting to note how this is translated when we assess asset prices into the mix? Taking as general indication the value of a 5yr old Capesize vessel, year-to-date the average figure has eased back by roughly 11%, while, given the overall stability of second hand values, we can expect this discount to remain relatively the same during the remaining months of the year. So, in terms of an earnings to price ratio analysis, this would suggest that the market is in a much better state (y-o -y) in relative terms. However, things change when we compare this to the risk profile involved. At this point, the excessive volatility levels noted in freight rates would point to the current prices being in theory fairly "expensive".
 
This however is only partially true, as volatility measures are agnostic to any market direction and only measure the difference from the average (either on the positive or the negative side). Given the aggressive upward movement in freight rates as of late, the standard deviation inevitably gives an exaggerated result. However, when you take into consideration what we have been seeing in the futures market, you may well find further ground to support the indication that has been given from the earnings to price ratio side, Thomas Chasapis concluded.


If you believe an article violates your rights or the rights of others, please contact us.

Recent News

Wednesday, 01 July 20
THERMAL COAL OPTIONS TRADING LAUNCHED IN CHINA'S ZHENGZHOU - XINHUA
Thermal coal options started trading on the Zhengzhou Commodity Exchange (ZCE) in central China’s Henan Province Tuesday.   It i ...


Wednesday, 01 July 20
COLOMBIA'S COAL EXPORT VOLUMES HAVE STEADILY DECLINED IN RECENT YEARS - BANCHERO COSTA
Colombia is the world’s fifth largest seaborne exporter of coal, coming after Australia, Indonesia, Russia and the USA.   Export ...


Wednesday, 01 July 20
MARKET INSIGHT - INTERMODAL
It was beginning of 2020 – close to 6 months from now – when we first experienced the huge impact of the COVID 19 outbreak on Ship Repa ...


Monday, 29 June 20
INDONESIAN COAL AT THE MERCY OF THE DRAGON AND TIGER - GHEE PEH | IEEFA
Coal sector analysts have been busy in recent months mapping the negative impact of low coal prices from the COVID-19 pandemic on Indonesian coal c ...


Monday, 29 June 20
FALLING DEMAND IN CHINA AND INDIA SIGNAL TOUGH TIMES AHEAD FOR INDONESIAN EXPORTS - GHEE PEH | EEFA
Assessing the Impact on Indonesian Coal Companies   The bad news for Indonesia’s coal companies is that they are likely to have ...


   1 2 3 4 5   
Showing 6 to 10 news of total 5990
News by Category
Popular News
 
Total Members : 26,970
Member
Panelist
User ID
Password
Remember Me
By logging on you accept our TERMS OF USE.
Free
Register
Forgot Password
 
Our Members Are From ...

  • Freeport Indonesia
  • Dr Ramakrishna Prasad Power Pvt Ltd - India
  • UOB Asia (HK) Ltd
  • India Bulls Power Limited - India
  • Thriveni
  • Alfred C Toepfer International GmbH - Germany
  • Vizag Seaport Private Limited - India
  • Bank of China, Malaysia
  • Ministry of Finance - Indonesia
  • Parry Sugars Refinery, India
  • Marubeni Corporation - India
  • Manunggal Multi Energi - Indonesia
  • Sakthi Sugars Limited - India
  • Coaltrans Conferences
  • IEA Clean Coal Centre - UK
  • Indonesian Coal Mining Association
  • Enel Italy
  • Runge Indonesia
  • Kaltim Prima Coal - Indonesia
  • The Treasury - Australian Government
  • Xindia Steels Limited - India
  • Rudhra Energy - India
  • Mjunction Services Limited - India
  • Oldendorff Carriers - Singapore
  • Vitol - Bahrain
  • KEPCO - South Korea
  • Vijayanagar Sugar Pvt Ltd - India
  • Siam City Cement - Thailand
  • DBS Bank - Singapore
  • Port Waratah Coal Services - Australia
  • IBC Asia (S) Pte Ltd
  • Salva Resources Pvt Ltd - India
  • Cebu Energy, Philippines
  • Cement Manufacturers Association - India
  • Rio Tinto Coal - Australia
  • TNPL - India
  • Kohat Cement Company Ltd. - Pakistan
  • Energy Link Ltd, New Zealand
  • Maersk Broker
  • London Commodity Brokers - England
  • Borneo Indobara - Indonesia
  • Samtan Co., Ltd - South Korea
  • PetroVietnam Power Coal Import and Supply Company
  • Posco Energy - South Korea
  • JPMorgan - India
  • Straits Asia Resources Limited - Singapore
  • International Coal Ventures Pvt Ltd - India
  • Gujarat Sidhee Cement - India
  • Altura Mining Limited, Indonesia
  • Leighton Contractors Pty Ltd - Australia
  • KPCL - India
  • EIA - United States
  • Carbofer General Trading SA - India
  • Kideco Jaya Agung - Indonesia
  • Gupta Coal India Ltd
  • Lafarge - France
  • Kalimantan Lumbung Energi - Indonesia
  • SRK Consulting
  • Britmindo - Indonesia
  • Commonwealth Bank - Australia
  • Maheswari Brothers Coal Limited - India
  • TeaM Sual Corporation - Philippines
  • Planning Commission, India
  • Gujarat Mineral Development Corp Ltd - India
  • Karbindo Abesyapradhi - Indoneisa
  • Krishnapatnam Port Company Ltd. - India
  • Cemex - Philippines
  • Gresik Semen - Indonesia
  • Global Coal Blending Company Limited - Australia
  • JPower - Japan
  • Reliance Power - India
  • Baramulti Group, Indonesia
  • PTC India Limited - India
  • globalCOAL - UK
  • Dalmia Cement Bharat India
  • Sarangani Energy Corporation, Philippines
  • Neyveli Lignite Corporation Ltd, - India
  • Maybank - Singapore
  • bp singapore
  • BNP Paribas - Singapore
  • Star Paper Mills Limited - India
  • GAC Shipping (India) Pvt Ltd
  • Tata Chemicals Ltd - India
  • Inspectorate - India
  • Attock Cement Pakistan Limited
  • Grasim Industreis Ltd - India
  • CESC Limited - India
  • Pipit Mutiara Jaya. PT, Indonesia
  • Ernst & Young Pvt. Ltd.
  • GB Group - China
  • Lanco Infratech Ltd - India
  • Samsung - South Korea
  • Global Green Power PLC Corporation, Philippines
  • VISA Power Limited - India
  • World Coal - UK
  • Indian Oil Corporation Limited
  • KOWEPO - South Korea
  • CCIC - Indonesia
  • Anglo American - United Kingdom
  • Berau Coal - Indonesia
  • Price Waterhouse Coopers - Russia
  • Semirara Mining Corp, Philippines
  • Mitsui
  • Minerals Council of Australia
  • ASAPP Information Group - India
  • Deutsche Bank - India
  • Orica Mining Services - Indonesia
  • The University of Queensland
  • Indogreen Group - Indonesia
  • Interocean Group of Companies - India
  • Banpu Public Company Limited - Thailand
  • Coalindo Energy - Indonesia
  • Cargill India Pvt Ltd
  • IMC Shipping - Singapore
  • Xstrata Coal
  • TNB Fuel Sdn Bhd - Malaysia
  • Metalloyd Limited - United Kingdom
  • Directorate General of MIneral and Coal - Indonesia
  • Moodys - Singapore
  • SUEK AG - Indonesia
  • Cardiff University - UK
  • Iligan Light & Power Inc, Philippines
  • Core Mineral Indonesia
  • Arutmin Indonesia
  • Sindya Power Generating Company Private Ltd
  • Tata Power - India
  • Bhatia International Limited - India
  • ICICI Bank Limited - India
  • Eastern Energy - Thailand
  • Maruti Cements - India
  • Agrawal Coal Company - India
  • Qatrana Cement - Jordan
  • Romanian Commodities Exchange
  • Jaiprakash Power Ventures ltd
  • Independent Power Producers Association of India
  • Indorama - Singapore
  • Bhushan Steel Limited - India
  • GHCL Limited - India
  • Goldman Sachs - Singapore
  • Bangladesh Power Developement Board
  • Argus Media - Singapore
  • ANZ Bank - Australia
  • Shenhua Group - China
  • GVK Power & Infra Limited - India
  • ING Bank NV - Singapore
  • Bangkok Bank PCL
  • Billiton Holdings Pty Ltd - Australia
  • Antam Resourcindo - Indonesia
  • Petron Corporation, Philippines
  • Renaissance Capital - South Africa
  • Asia Pacific Energy Resources Ventures Inc, Philippines
  • APGENCO India
  • MS Steel International - UAE
  • Peabody Energy - USA
  • San Jose City I Power Corp, Philippines
  • Sojitz Corporation - Japan
  • Toyota Tsusho Corporation, Japan
  • Coal India Limited
  • Ministry of Transport, Egypt
  • Total Coal South Africa
  • Chettinad Cement Corporation Ltd - India
  • HSBC - Hong Kong
  • Fearnleys - India
  • Eastern Coal Council - USA
  • Miang Besar Coal Terminal - Indonesia
  • Cigading International Bulk Terminal - Indonesia
  • UBS Singapore
  • Riau Bara Harum - Indonesia
  • Wood Mackenzie - Singapore
  • PowerSource Philippines DevCo
  • Edison Trading Spa - Italy
  • Coastal Gujarat Power Limited - India
  • Semirara Mining and Power Corporation, Philippines
  • Thermax Limited - India
  • Clarksons - UK
  • Platou - Singapore
  • CNBM International Corporation - China
  • Mintek Dendrill Indonesia
  • Pinang Coal Indonesia
  • Globalindo Alam Lestari - Indonesia
  • Noble Europe Ltd - UK
  • Wilmar Investment Holdings
  • PLN - Indonesia
  • Kepco SPC Power Corporation, Philippines
  • SMG Consultants - Indonesia
  • Directorate Of Revenue Intelligence - India
  • Vale Mozambique
  • Aboitiz Power Corporation - Philippines
  • Binh Thuan Hamico - Vietnam
  • Ind-Barath Power Infra Limited - India
  • World Bank
  • IOL Indonesia
  • SMC Global Power, Philippines
  • Coeclerici Indonesia
  • Indian School of Mines
  • Holcim Trading Pte Ltd - Singapore
  • Ministry of Mines - Canada
  • PetroVietnam
  • Global Business Power Corporation, Philippines
  • Asian Development Bank
  • LBH Netherlands Bv - Netherlands
  • GNFC Limited - India
  • Malabar Cements Ltd - India
  • Panama Canal Authority
  • Uttam Galva Steels Limited - India
  • Barclays Capital - USA
  • OCBC - Singapore
  • TRAFIGURA, South Korea
  • Platts
  • Indo Tambangraya Megah - Indonesia
  • Intertek Mineral Services - Indonesia
  • Idemitsu - Japan
  • Formosa Plastics Group - Taiwan
  • Savvy Resources Ltd - HongKong
  • Glencore India Pvt. Ltd
  • Jindal Steel & Power Ltd - India
  • Bayan Resources Tbk. - Indonesia
  • Permata Bank - Indonesia
  • OPG Power Generation Pvt Ltd - India
  • Surastha Cement
  • NTPC Limited - India
  • ACC Limited - India
  • Indika Energy - Indonesia
  • Pendopo Energi Batubara - Indonesia
  • Japan Coal Energy Center
  • Meralco Power Generation, Philippines
  • Makarim & Taira - Indonesia
  • GN Power Mariveles Coal Plant, Philippines
  • Singapore Mercantile Exchange
  • MEC Coal - Indonesia
  • Indonesia Power. PT
  • Dong Bac Coal Mineral Investment Coporation - Vietnam
  • Aditya Birla Group - India
  • Ince & co LLP
  • SGS (Thailand) Limited
  • Bharathi Cement Corporation - India
  • NALCO India
  • Tamil Nadu electricity Board
  • Ceylon Electricity Board - Sri Lanka
  • Filglen & Citicon Mining (HK) Ltd - Hong Kong
  • Trasteel International SA, Italy
  • Africa Commodities Group - South Africa
  • Mitsubishi Corporation
  • Cosco
  • Bukit Baiduri Energy - Indonesia
  • SN Aboitiz Power Inc, Philippines
  • Thailand Anthracite
  • The India Cements Ltd
  • Thiess Contractors Indonesia
  • TANGEDCO India
  • Simpson Spence & Young - Indonesia
  • Humpuss - Indonesia
  • Sree Jayajothi Cements Limited - India
  • Russian Coal LLC
  • Karaikal Port Pvt Ltd - India
  • Deloitte Consulting - India
  • Sinarmas Energy and Mining - Indonesia
  • CoalTek, United States
  • Asia Cement - Taiwan
  • Therma Luzon, Inc, Philippines
  • PNOC Exploration Corporation - Philippines
  • Central Electricity Authority - India
  • Standard Chartered Bank - UAE
  • ETA - Dubai
  • Mercator Lines Limited - India
  • AsiaOL BioFuels Corp., Philippines
  • Inco-Indonesia
  • Credit Suisse - India
  • Kobexindo Tractors - Indoneisa
  • Australian Commodity Traders Exchange
  • Gujarat Electricity Regulatory Commission - India
  • McConnell Dowell - Australia
  • Petrochimia International Co. Ltd.- Taiwan
  • Energy Development Corp, Philippines
  • Jatenergy - Australia
  • U S Energy Resources
  • WorleyParsons
  • Kapuas Tunggal Persada - Indonesia
  • Bukit Makmur.PT - Indonesia
  • Georgia Ports Authority, United States
  • Maharashtra Electricity Regulatory Commission - India
  • Videocon Industries ltd - India
  • Shree Cement - India
  • Rashtriya Ispat Nigam Limited - India
  • PLN Batubara - Indonesia
  • Madhucon Powers Ltd - India
  • Heidelberg Cement - Germany
  • SASOL - South Africa
  • Power Finance Corporation Ltd., India
  • GMR Energy Limited - India
  • McKinsey & Co - India
  • Electricity Generating Authority of Thailand
  • Mercuria Energy - Indonesia
  • Kobe Steel Ltd - Japan
  • Bulk Trading Sa - Switzerland
  • TGV SRAAC LIMITED, India
  • Australian Coal Association
  • Thomson Reuters GRC
  • Bukit Asam (Persero) Tbk - Indonesia
  • J M Baxi & Co - India
  • Geoservices-GeoAssay Lab
  • BRS Brokers - Singapore
  • Thai Mozambique Logistica
  • Merrill Lynch Bank
  • Adaro Indonesia
  • The State Trading Corporation of India Ltd
  • Orica Australia Pty. Ltd.
  • IHS Mccloskey Coal Group - USA
  • Parliament of New Zealand
  • Arch Coal - USA
  • RBS Sempra - UK
  • Kartika Selabumi Mining - Indonesia
  • Adani Power Ltd - India
  • EMO - The Netherlands
  • Asmin Koalindo Tuhup - Indonesia
  • White Energy Company Limited
  • Larsen & Toubro Limited - India
  • Economic Council, Georgia
  • Timah Investasi Mineral - Indoneisa
  • Tanito Harum - Indonesia
  • South Luzon Thermal Energy Corporation
  • European Bulk Services B.V. - Netherlands
  • Bhoruka Overseas - Indonesia
  • Vedanta Resources Plc - India
  • Ambuja Cements Ltd - India
  • Bahari Cakrawala Sebuku - Indonesia
  • Bank of Tokyo Mitsubishi UFJ Ltd
  • Barasentosa Lestari - Indonesia
  • Mitra SK Pvt Ltd - India
  • Medco Energi Mining Internasional
  • Mechel - Russia
  • Meenaskhi Energy Private Limited - India
  • KPMG - USA
  • Essar Steel Hazira Ltd - India
  • Malco - India
  • Petrosea - Indonesia
  • Sucofindo - Indonesia
  • New Zealand Coal & Carbon
  • Bank of America
  • Offshore Bulk Terminal Pte Ltd, Singapore
  • Central Java Power - Indonesia
  • Infraline Energy - India
  • CIMB Investment Bank - Malaysia
  • Coal and Oil Company - UAE
  • Sical Logistics Limited - India
  • Coal Orbis AG
  • Kumho Petrochemical, South Korea
  • Truba Alam Manunggal Engineering.Tbk - Indonesia
  • Latin American Coal - Colombia
  • Merrill Lynch Commodities Europe
  • Chamber of Mines of South Africa
  • Jorong Barutama Greston.PT - Indonesia
  • Siam City Cement PLC, Thailand